Social Security Bump Won’t Calm Retiree Money Worries

A 3.2% increase in Social Security benefits to help offset inflation is welcome news, but won’t bring big sighs of relief among the more than 71 million Americans receiving the monthly benefits check. The 2024 cost-of-of living adjustment announced on Wednesday, represents a third year of above-average increases. But the bump pales in comparison to 2023’s 8.7%. It amounts to, on average, another $50 or so a month, bringing the average Social Security check for all retired workers to $1,907 in the coming year. Still, anything to combat the relentless...